PAMM Money Managers can be classified as a trader who has extensive knowledge and understanding regarding trading. Money Managers carry out trades for Investors for a percentage that is decided by themselves.
A Money Manager would need to open up a fund and then create an offer for prospective investors to join for carrying out their trades. If the Investor decides to proceed with this offer and join the fund, they would invest their funds in the Money Manager's pool of funds so that they can proceed with trading. Any profits and losses made by these trades will be assigned accordingly to the Investors.